Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
The most important reason for the existence of insurance business is to?
prevent the occurrence of any loss
spread losses to all covered participants
provide for the replacement of facilities
encourage individuals to save
Correct answer is B
Insurance companies exist to provide financial protection from losses that can occur during normal business operations.
A risk that can be estimated and calculated to be compensation is?
a delivery risk
an insurable risk
a credit risk
a systematic risk
Correct answer is B
Insurable risks are risks that insurance companies will protect you against because it is possible to estimate and calculate the loss.
contribution
subrogation
promiate cause
utmost good faith
Correct answer is B
Subrogation is a term describing a right held by most insurance companies to legally pursue a third party that caused an insurance loss to the insured.
The transmission of telephone services from one country to another is facilitated by?
communication satelite
international facility
interconnectivity
internet services
Correct answer is A
Communication satellite is the use of artificial satellites to provide communication links between various points on Earth. It is designed to relay several, or more usually many signals simultaneously.
In which of the following will the numbers of words used determine the cost of the message sent?
Telephone
Telegram
Telex
Correct answer is B
A telegram is a message that is sent by electricity or radio and then printed and delivered to someone's home or office. The cost of the messages sent are determined by the number of words contained in the message.